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MIRA INFORM REPORT
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Report No. : |
483540 |
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Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PRAXIS HOME RETAIL LIMITED (w.e.f. 21.06.2017) |
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Formerly Known As
: |
PRAXIS HOME RETAIL PRIVATE LIMITED (w.e.f. 05.01.2017) G R N RETAIL PRIVATE LIMITED (w.e.f. 21.12.2016) G
R N ENERGY PRIVATE LIMITED |
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Registered
Office : |
iThink Techno Campus, Jolly Board Tower D, Ground Floor, Kanjurmarg (East),
Mumbai-400042, Maharashtra |
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Tel. No.: |
91-22-71068031 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
31.01.2011 |
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Com. Reg. No.: |
11-212866 |
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Capital Investment
/ Paid-up Capital : |
INR 0.500 Million |
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CIN No.: [Company Identification
No.] |
U52100MH2011PLC212866 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFCM2069R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject sells
home furnishings through retail stores. [Registered activity and also
confirmed by management] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Praxis Home Retail Limited was incorporated in the year 2011. The Board of Directors of the subject company have approved the Composite Scheme of arrangement between the subject company Future Retail Limited (FRL) and Bluerock eServices Private Limited (BSPL) in their meeting held on April 20, 2017. The scheme inter-alia involves the demerger of Home Retail Business of Future Retail Limited into the subject company w.e.f. the commencement of business on August 1, 2017. Pursuant to the scheme, the home retail business of Future Retail limited was transferred to and vested in the subject company. As a consideration for the said demerger, the company had to issue 1 fully paid up equity share of INR 5 each, fully paid up, to the shareholders of Future Retail Limited for every 20 fully paid up shares of INR 2 each, held by the shareholders in Future Retail Limited on record date to be fixed in that behalf by the Board of Directors of Future Retail Limited. The scheme also includes the demerger of e-commerce Home Retail Business from Bluerock eServices Private Limited and for which the subject company had to issue 6,30,000, 9% Redeemable Preference Shares of INR 100 each to the sharholders of BSPL as consideration for Demerger. The appointed date for demerger of e-commerce Home Retail Business was April 15, 2016. Post the said scheme, the company has changed its operational activity from Power Generation to Retail Activities pursuant to which the name of the company was changed from “G R N Energy private Limited” to “G R N Retail Private Limited” w.e.f. 21st December 2016 and further the name was changed to “Praxis Home Retail Private Limited” w.e.f. 5th January 2017. The company then got converted into public limited company and hence the name was changed to “Praxis Home Retail Limited” w.e.f. 21st June 2017. For the financial year ended 2017, the company possesses average financial profile marked by negative reserve base. Payments are reported to be usually correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 01.01.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE (Mobile No.: 91-9822263209)
LOCATIONS
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Registered Office / Corporate Office : |
iThink Techno Campus, Jolly Board Tower D, Ground Floor, Kanjurmarg
(East), Mumbai-400042, Maharashtra, India |
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Tel. No.: |
91-22-71068031 |
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Mobile No.: |
91-9822263209 |
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Fax No.: |
91-22-71068032 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Viraj Didwania |
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Designation : |
Managing Director |
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Address : |
102 A, Grand Paradi, Kemps Corner, Mumbai-400036, Maharashtra, India |
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Date of Birth/Age : |
04.04.1982 |
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Date of Appointment : |
12.10.2017 |
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DIN No.: |
02412474 |
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Name : |
Mr. Pawan Kumar Agarwal |
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Designation : |
Director |
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Address : |
Flat No. 209, B-Wing, Second Floor, Ostwal Ornate Bldg-1, Jesal Park, Bhayandar (East), Thane-401105, Maharashtra, India |
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Date of Appointment : |
18.04.2017 |
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DIN No.: |
01435580 |
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Name : |
Mr. Mukesh Agarwal |
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Designation : |
Director |
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Address : |
Flat No. 701, B - Wing, Building No. 90, Shubhaghan-2, Poonam Sagar Complex, Mira Road (East), Thane-401107, Maharashtra, India |
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Date of Appointment : |
18.04.2017 |
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DIN No.: |
05326167 |
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Name : |
Mr. Krishan Kumar Biyani |
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Designation : |
Director |
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Address : |
F No- 601, Balsam Building, Rosalie Lx Complex, Barave Khadakpada, Kalyan (West), Thane-421301, Maharashtra, India |
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Date of Appointment : |
18.04.2017 |
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DIN No.: |
06781217 |
KEY EXECUTIVES
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Name : |
Ms. Smita Ashish Chowdhury |
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Designation : |
Company Secretary |
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Address : |
Flat No. 9, Adish Co-Operative Housing Society, 18th Road, Near Hanuman Temple, Khar (West), Mumbai-400052, Maharashtra, India |
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Date of Appointment : |
22.08.2017 |
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PAN No.: |
AGHPC9290M |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
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Names of Shareholders |
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No. of Shares |
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GRN Finsec Private Limited, India (Alongwith Nominee) |
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50000 |
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Total |
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50000 |
AS ON 30.09.2016
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Equity Share
Break up |
Percentage |
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Category |
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Promoters - Bodies corporate |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject
sells home furnishings through retail stores. [Registered activity and also
confirmed by management] |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
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Bankers : |
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Auditors : |
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Name : |
Rajen Damani and Associates Chartered Accountants |
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Address : |
89/A, Mittal Chambers, 228, Nariman Point, Mumbai-400021, Maharashtra,
India |
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Tel. No.: |
91-22-22029071 / 22824753 / 30284754 / 55 |
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Fax No.: |
91-22-22820446 |
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E-Mail : |
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Qualification: |
B.Com., (Hons) L.L.B. (Gen.), F.C.A. |
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Website : |
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PAN No.: |
AABFR1332B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : : |
GRN Finsec Private Limited, India CIN No.: U65993MH2007PTC174016 |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
INR 10/- each |
INR 10.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
INR 10/- each |
INR 0.500 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
0.500 |
0.100 |
0.100 |
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(b) Reserves &
Surplus |
(0.253) |
(0.219) |
(0.212) |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
0.247 |
(0.119) |
(0.112) |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
0.000 |
0.108 |
0.108 |
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(b) Trade payables |
0.000 |
0.000 |
0.000 |
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(c) Other current
liabilities |
0.005 |
0.017 |
0.012 |
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(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
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Total Current Liabilities
(4) |
0.005 |
0.125 |
0.120 |
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TOTAL |
0.252 |
0.006 |
0.008 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
0.000 |
0.000 |
0.000 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
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(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
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(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current Assets |
0.000 |
0.000 |
0.000 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
0.000 |
0.000 |
0.000 |
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(c) Trade receivables |
0.000 |
0.000 |
0.000 |
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(d) Cash and cash
equivalents |
0.252 |
0.006 |
0.008 |
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(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
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(f) Other current assets |
0.000 |
0.000 |
0.000 |
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Total Current Assets |
0.252 |
0.006 |
0.008 |
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TOTAL |
0.252 |
0.006 |
0.008 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
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|
Income |
0.000 |
0.000 |
0.000 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.000 |
0.000 |
0.000 |
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Less |
EXPENSES |
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Other expenses |
0.031 |
0.008 |
0.009 |
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TOTAL |
0.031 |
0.008 |
0.009 |
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PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(0.031) |
(0.008) |
(0.009) |
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Less |
FINANCIAL EXPENSES |
0.003 |
0.000 |
0.000 |
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(0.034) |
(0.008) |
(0.009) |
|
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Less |
DEPRECIATION/
AMORTISATION |
0.000 |
0.000 |
0.000 |
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|
PROFIT/ (LOSS) BEFORE TAX |
(0.034) |
(0.008) |
(0.009) |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT/ (LOSS) AFTER TAX
|
(0.034) |
(0.008) |
(0.009) |
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Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(0.220) |
(0.212) |
(0.203) |
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Balance Carried to the
B/S |
(0.254) |
(0.220) |
(0.212) |
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Earnings / (Loss) Per
Share (INR) |
(1.11) |
(0.76) |
(0.87) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations activity |
(0.046) |
(0.002) |
(0.003) |
KEY
RATIOS
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.02 |
20.83 |
15.00 |
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Debt Equity Ratio (Total Liability / Networth) |
0.00 |
(0.91) |
(0.96) |
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Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.02 |
(1.05) |
(1.07) |
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Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.00 |
0.00 |
0.00 |
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|
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|
Interest Coverage Ratio (PBIT / Financial Charges) |
(10.33) |
0.00 |
0.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
0.00 |
0.00 |
0.00 |
|
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Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(13.49) |
(133.33) |
(112.50) |
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|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(13.77) |
6.72 |
8.04 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
50.40 |
0.05 |
0.07 |
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|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
50.40 |
0.05 |
0.07 |
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|
|
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|
G-Score Ratio Financial (Networth / Total Assets) |
0.98 |
(19.83) |
(14.00) |
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|
|
G-Score Ratio Debt (Debts / Equity Capital) |
0.00 |
1.08 |
1.08 |
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|
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G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
50.40 |
0.05 |
0.07 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
0.100 |
0.100 |
0.500 |
|
Reserves & Surplus |
(0.212) |
(0.219) |
(0.253) |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
(0.112) |
(0.119) |
0.247 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.108 |
0.108 |
0.000 |
|
Total borrowings |
0.108 |
0.108 |
0.000 |
|
Debt/Equity ratio |
(0.964) |
(0.908) |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
SCHEME OF
ARRANGMENT
Composite scheme
of arrangement between the company and future retail limited (‘FRL’ or ‘First Demerged
Company’) and Bluerock eServices Private Limited and their respective
shareholders (“the scheme”)
The Board of Directors of the company have approved the Composite Scheme of arrangement between the subject company Future Retail Limited (‘FRL’ or ‘First Demerged Company’) and Bluerock eServices Private Limited (‘BSPL’ or ‘Second Demerged Company’) and their respective shareholders (“the scheme’) under the section 230-232 read with section 66 of the companies Act, 2013 and other applicable provisions of the Companies act, 2013 in their meeting held on April 20, 2017. The scheme inter-alia involves demerger of Home Retail Business of Future Retail Limited into the subject company w.e.f. the commencement of business on August 1, 2017. Pursuant to the scheme, the home retail business of Future Retail Limited was transferred to and vested in the subject company. As a consideration for the said demerger, the company would issue 1 fully paid up equity share of INR 5 each, fully paid up, to the shareholders of Future Retail Limited for every 20 fully paid up shares of INR 2 each, held by the shareholders in Future Retail Limited on record date to be fixed in that behalf by the Board of Directors / Committee of Directors of Future Retail Limited. Post issue of such shares, the equity shares of the company would be listed on the stock exchange viz, BSE and NSE (subject to listing permission) and the shareholding pattern of the company would be identical to that of FRL.
The scheme also provides for demerger of e-commerce Home Retail Business from Bluerock eServices Private Limited into the company and for which the subject company had to issue 630000, 9% Redeemable Preference Shares of INR 100 each to the shareholders of BSPL as consideration for Demerger.
The appointed date for demerger of e-commerce Home Retail Business was April 15, 2016. The scheme would be given effect on receipt of requisite approvals from the applicable statutory authorities.
CHANGE IN OBJECT
AND NAME
During the year the company has changed its object from power generation to retail activities pursuant to which the name of the company was changed from ‘G R N ENERGY PRIVATE LIMITED’ to ‘G R N RETAIL PRIVATE LIMITED’ with effect from 21st December, 2016 and then from ‘G R N RETAIL PRIVATE LIMITED’ to ‘PRAXIS HOME RETAIL PRIVATE LIMITED’ with effect from 5th January, 2017.
Post conversion of the company from private limited company to public
limited company, the name of the company has been changed from ‘PRAXIS
HOME RETAIL PRIVATE LIMITED’ to PRAXIS HOME RETAIL LIMITED’ with effect from 21st
June, 2017.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Advance from Holding
Company |
0.000 |
0.108 |
|
Total |
0.000 |
0.108 |
INDEX OF CHARGE: NO
CHARGES EXISTS FOR COMPANY
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 63.93 |
|
|
1 |
INR 86.07 |
|
Euro |
1 |
INR 76.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.